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SIERRA TUCSON COMPANIES INC. ANNOUNCES UNAUDITED THIRD QUARTER RESULTS

 TUCSON, Ariz., Oct. 21 /PRNewswire/ -- Sierra Tucson Companies Inc. (NASDAQ: STSN) today announced its unaudited results of operations for the third quarter ended Sept. 30, 1993.
 Total net revenues for the quarter ended Sept. 30, 1993, decreased $2,087,545 to $5,660,470, or 27 percent less than the corresponding quarter of 1992. Expenses, relative to the corresponding quarter of 1992, decreased by $1,401,675. Net loss for the quarter was $290,871. Earnings per share decreased $.06, relative to the third quarter of 1992. The decline in revenues resulted from lower utilization levels and the closing of the adolescent center in May 1993.
 John H. Schmitz, president and chief operating officer, said, "The company is undergoing significant changes resulting from both internal and external demands including the development of additional revenue enhancement initiatives, the consolidation of services, more efficient use of available resources and further reduction of our workforce.
 "We believe these changes and the ongoing development of new strategic initiatives will help return the company to profitability. Our philosophy and commitment to delivering quality treatment remains our highest priority as we evolve new services into the business environment."
 SIERRA TUCSON COMPANIES INC.
 Unaudited Statement of Results
 Consolidated
 Sept. 30, 1993
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1993 1992 1993 1992
 (Unaudited) (Unaudited) (Unaudited) (Unaudited)
 Gross revenues $6,629,426 $9,414,771 21,948,023 34,093,129
 Net revenue 5,660,470 7,748,015 19,358,641 29,471,570
 Income (loss)
 before taxes (469,147) 216,723 (6,329,398) 427,891
 Net income (loss) (290,871) 263,932 (5,757,357) 456,607
 Earnings (loss)
 per share (0.03) 0.03 (0.68) 0.05
 W.A. common
 equivalents 8,496,886 8,496,886 8,496,886 8,495,223
 -0- 10/21/93
 /CONTACT: Joseph A. Hensley, CFO, or James F. Rianoshek, investor relations, 602-792-5800/
 (STSN)


CO: Sierra Tucson Companies Inc. ST: Arizona IN: SU: ERN

NY-LM -- LA007 -- 5171 10/21/93 11:52 EDT
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Publication:PR Newswire
Date:Oct 21, 1993
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